South Korean regulators probe HP over price fixing

HP's offices in South Korea have been raided by officials from the Fair Trade Commission over allegations of price fixing, according to a report.The Fair Trade Commission (FTC) confirmed to the Korean Times that it was investigating HP's South Korean office in a report on Monday.

HP's offices in South Korea have been raided by officials from the Fair Trade Commission over allegations of price fixing, according to a report.

The Fair Trade Commission (FTC) confirmed to the Korean Times that it was investigating HP's South Korean office in a report on Monday. Officials removed computer files, documents and questioned employees, it added.

The report did not say which divisions or products were being investigated but an HP spokesman confirmed that the FTC had made a "routine" visit to the Seoul office.

"HP is co-operating fully with the Korea Fair Trade Commission in this routine audit. HP conducts its business with uncompromising integrity and we adhere to the highest standards of business ethics," an HP spokesman said in a statement.

"HP has been doing business in South Korea for 28 years, and we will continue to deliver the highest standards of products, solutions and services to our customers," the company added.

In March, the South Korean FTC fined multiple operators and phone manufacturers a total 45.3bn won (£25m) over price fixing after regulators found that the companies involved — which included Samsung Electronics, LG Electronics, and Pantech — had colluded to artificially inflate prices, according to the Yonhap News Agency.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.
See All